ICP has rallied 14% as stablecoin liquidity surged roughly 10% over seven days to reach $3.98 million and blockchain fees hit a high of $9,210. The Open Interest-Weighted Funding Rate has turned negative at -0.0086% while Open Interest jumped 12% to approximately $103.46 million, indicating that short positions are dominating the market. The Taker Buy/Sell Ratio has plummeted to 0.87, suggesting growing selling pressure and that investors may consider the asset overvalued. These combined factors could weigh on ICP’s performance and potentially force the price lower.
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